Excessive employee turnover is frustrating, but it’s also surprisingly expensive. By the time you add up the expenses associated with replacing an employee and the impact on productivity and morale, replacing a single employee can cost 15-20% of their annual salary.
Take into account that the average business loses 10% of their workforce per year and you’re talking a significant hit to your bottom line. How can resourceful hiring reduce that impact?
Double-check the job description.
Take some time to really think about what is required from the person you are hiring. What does the job require? What is the team he or she will be working with like? What are the characteristics of people who have been successful in that role previously?
Check your interview process.
Are you asking the right questions in your interviews? Do you have a system or metrics to follow? Or have you just been winging it? Have the right people been interviewing candidates? Be sure that the candidate’s direct supervisor is on the hiring team. When appropriate, a peer interviewer can be helpful as well.
Make them keepers.
Why are people leaving? Are your employees challenged enough? Are they frustrated and overworked? Do they feel like they are being heard? Your business processes may need to be tweaked before you make your next hire.
Do you really need them?
This may be the perfect opportunity to decide if the role requires permanent help. Maybe the position can go vacant in slower seasons and be filled by temporary help when you are busy. This is especially true if some of your employees don’t have enough to do.
Call in the professionals.
A staffing firm can screen for fit, narrow the talent pool and provide you with candidates quickly. And if you have a variable workload, they can provide employees just when you need them. You won’t have to worry about hiring a permanent employee for a temporary need, just to lay them off later.
Need help hiring smarter, faster and more cost effectively? Staffing Service USA has the resources and experience necessary to ensure success. Contact us today to get started.